Sensex and Nifty rise on Friday despite broader market crash
Indian benchmark indices gained up to 0.5 per cent while mid-cap and small-cap indices dropped by as much as 2 per cent.
Indian benchmark indices Sensex and Nifty 50 ended the week on a positive note on Friday, according to The Economic Times. The Sensex rose 308 points to close at nearly 74,460, while the Nifty 50 gained 116 points to end at 23,053.
The gains in large-cap indices occurred even as broader markets crashed. The Nifty Midcap 100 and Nifty Smallcap 250 indices both dropped by up to 2 per cent.
Vinod Nair, Head of Research at Geojit Investments, said sentiment weakened as crude oil prices rose amid reports on US-Iran tensions. He noted that large-caps showed resilience with selective buying in IT, pharma, and healthcare.
Global markets faced volatility on Friday. Reuters reported that Wall Street saw a sharp selloff, with the Nasdaq posting its largest single-day percentage decline since June 5 following disappointing results from Intel and Amazon.
European markets also dropped on Friday due to a global tech selloff. The pan-European STOXX 600 index closed 0.36 per cent lower at 646.75 points.
On the NSE, Sagility India was among the most active stocks by turnover, recording Rs 3,303 crore. In terms of volume, Sagility India led with 77.33 crore traded shares.
